New York (HedgeCo.Net) – The Bahrain-based hedge fund investor Investcorp and private equity firm Freeman Spogli & Co, are teaming up to buy the Cincinatti-based rain and cold weather accessory designer Totes Isotoner Corporation. The terms of the transaction were not disclosed.
“We are excited about acquiring a globally recognized brand which is a leader within a growing functional accessories market,” Investcorp Gulf Business president Mohammed Al Shroogi said. “We look forward to working closely with the Totes management team as they seek to grow through further international expansion and introduction of new, high-quality products.”
“We are excited to partner with Investcorp to combine our resources and experience in growing consumer businesses. We look forward to a long-term partnership with the Company as we engage in value enhancing initiatives to continue its long track record of growth,” said Benjamin Geiger, a General Partner of Freeman Spogli & Co.
The Investcorp hedge fund group has offices in New York, London, Bahrain, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at December 31, 2013, Investcorp had $11.3 billion in total assets under management.
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